- CoinFi is seeking to generate about $250 million fund.
- The fund is to be raised for a purpose of seed investments.
- Prior to this, the company also raised $300 million in venture capital funds.
On October 31, a new filing came from the Securities and Exchange Commission of the United States which stated that CoinFund, a crypto-native investment firm and investment advisor is seeking to generate about $250 million fund. The fund is to be raised for a purpose of seed investments.
CoinFunds launch of $300 million venture capital fund
Prior to this, that very firm has inaugurated a $300 million venture capital fund.
The $300 million venture capital fund was rolled out in August 2022. The purpose was to support early-stage blockchain projects and to invest in crypto firms receiving commercial grip in the field with a massive total addressable market, an indication of investor trust in an industry affected by a bear market.
The news was given by David Pakman, the managing partner at blockchain/ crypto-native investment company CoinFund.
The fresh CoinFund Seed IV fund is classified into three parts. Out of these, two reside in the Cayman Island and the other in Delaware, which is basically done for legal and tax purposes. The aim of Caymans funds is to generate $130 million and $20 million individually. Other than that, the Delaware fund is targeting to generate $100 million. The funds had not been approached to investors thus first sales have still to happen.
The media has approached CoinFund but it has not replied or agreed to say anything on this matter till press time.
CoinFund was founded in 2015 and is headquartered in New York City and Miami. Initially, CoinFund was centered on bitcoin as well as seed-stage investments in Defi projects prior to its expansion. Portfolio companies contain NBA Top Shot creator Dapper Labs, Blockdaemon, an institutional staking provider, and The Graph, an indexing protocol for organizing blockchain data.
Early-stage crypto startup
In regard to the early-stage crypto startup, Seth Ginns, the head of liquid investments stated that the early-stage crypto startup price is not where the classic technology at the stage was before two or three years and also he does not guarantee that they are going to get there. Ginns has also revealed that he does not think that prices for these early-stage firms will go down as they have in market cycles some time ago.
Source: https://www.thecoinrepublic.com/2022/11/05/crypto-investment-firm-coinfund-to-raise-250-million-fund/